SOERA Lietuva
Lithuanian experience of corporate reforms: from SOERA for the Ukrainian SOEs in the Economic Sector

The Gas TSO of Ukraine, as part of the Ukrainian delegation of the government representatives and state-owned enterprises (SOEs), participated in a training tour in Vilnius. This tour included the presentation of the Republic of Lithuania experience in the field of corporate reform and the interaction of different structures in the management of SOEs’ work.

The event was organized by the project “Reforming State-Owned Enterprises in Ukraine” (SOERA), which is being implemented with the support of the American people through the United States Agency for International Development (USAID) and the United Kingdom Foreign, Commonwealth and Development Office (UKaid).

As noted in SOERA, “the Republic of Lithuania was chosen for the visit because it successfully transitioned from the “soviet system” to a full member of the EU with a market economy, overcoming many challenges similar to those that Ukraine is just beginning to face.” Lithuania has over ten years of experience in implementing reforms in the economic sector, particularly in corporate management by the state-owned companies. It is also ranked as one of the top five countries in this area according to the rating of Organization for Economic Co-operation and Development (OECD).

During the event, meetings were held with representatives from ministries and state agencies of the Republic of Lithuania, the Baltic Institute of Corporate Governance (BICG), the Center for Corporate Governance and leading state companies. Additionally, the Ukrainian delegation met with the First Lady of the Republic of Lithuania Diana Nausedene, as well as representatives from the Ukrainian and British embassies in Lithuania.

As a reminder, GTSOU has had a successful experience of cooperation with SOERA within the framework of the Memorandum of Understanding. The project advisors assisted the Company with the implementation of corporate reform. More details about this cooperation can be found here.

The goal of the SOERA project is to enhance public sector governance and property management, including planning and advancing critical reforms of Ukraine’s State-owned enterprises (SOEs), improving the management of state and municipal assets, sustaining a wartime economy, and ensuring a swift and transparent post-war reconstruction.